Job Market Monitor
Michel Cournoyer
High-Skilled Migrants – The competition is on
Rarely is interest in high-skilled immigration as visible as it was in 2023, when post-pandemic labor market restructuring prompted major destination countries worldwide to adopt policies targeting certain highly educated workers. The year began with the highest ever permanent migration to countries of the Organization for Economic Cooperation and Development (OECD), driven in part by … Continue reading
Teachers in US – Shortage shows small signs of improvement, but it remains widespread
The COVID-19 pandemic greatly exacerbated a long-standing and widespread teacher shortage in schools. By mid-2022, several indicators of teaching shortages and staffing stress were at record highs. Recent data from the School Pulse Panel (SPP) show that understaffing stress in schools has relented somewhat in the past year, though progress remains modest and uneven. The … Continue reading
Canada – The highest population growth rate in any quarter since the second quarter of 1957 (+1.2%)
Canada’s population was estimated at 40,528,396 on October 1, 2023, an increase of 430,635 people (+1.1%) from July 1. This was the highest population growth rate in any quarter since the second quarter of 1957 (+1.2%), when Canada’s population grew by 198,000 people. At the time, Canada’s population was 16.7 million people, and this rapid … Continue reading
Canada – Unprepared for population ageing
Canada long ago missed the chance to properly prepare for the inexorable ageing of its population and its broader implications for healthcare, society and the economy. From 2021 to 2041, the number of seniors (65-plus) will rise from 7,081,800 to 10,869,000, an increase of 3.8 million people.1 Those 75-plus will double and those 85-plus will … Continue reading
Immigration and inflation in Canada – Boost potential growth but imbalances in the housing sector may be exacerbated says Bank of Canada’s report
Canada has seen a significant increase in immigration flows since 2022. While a well-established literature looks at the effects of immigration on specific economic variables or narrowly defined questions, significant gaps remain in our understanding of the broader macroeconomic impacts of a rise in newcomers.1 Moreover, these effects are likely to vary among countries and … Continue reading
Productivity and Aging – Aging economies are not puzzling from a theoretical perspective
Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been lackluster, like Japan, have done surprisingly well in terms of GDP growth per working-age adult. Indeed, from 1998 to … Continue reading
Canada – GDP per-capita declined for a fifth straight quarter writes RBC
With population growing rapidly, per-capita growth rates continue to look substantially softer – GDP per-capita declined for a fifth straight quarter in Q3, consistent with a drift higher in the unemployment rate since the spring. Chosen excerpts by Job Market Monitor. Read the whole story @ RBC Royal Bank
GenAI and Upskilling – Look at how employee roles and skills must evolve
Generative AI presents both benefits and challenges to organizations. BCG’s GenAI Workforce Productivity Diagnostic helps companies define a clear path to successfully implement this transformative technology. Key Takeaways While the value and transformation potential of GenAI are real, so too are the technical, implementation, and change management challenges. BCG’s GenAI Workforce Productivity Diagnostic helps companies … Continue reading
Training Programs in Canada – The current package of training programs lacks a coherent framework
Enhancing EI-funded training programs would improve their uptake and help workers who earn little or are vulnerable to job loss and pre-carious work. The federal government spends almost $3 billion a year on training programs, and the 2023 budget set aside an additional $625 million for that in this fiscal year. Much of this money … Continue reading
Skilled Trades in US – The 4-year degree path may not be for everyone
America’s decades-long prioritization of the 4-year degree has pushed anew generation away from the skilled trades. What can industries that needskilled-trade workers do about it? There are 10 million open jobs in America. And roughly 6 million of them need to be filled by people without a college degree. The 4-year degree path may not … Continue reading
Ageing Workforce in OECD – People between the ages of 45 and 64 account for some 40% of the working-age population
The world of work is getting older in advanced and an increasing number of emerging economies. Today people between the ages of 45 and 64 account for some 40% of the working-age population in OECD countries, up from 28% in 1990.Two powerful and persistent trends, longer lifespans and lower birth rates, all but guarantee that … Continue reading
Immigration to OECD Countries in 2022 – 26% increase compared with 2021
Permanent migration to OECD countries reached 6.1 million in 2022, a 26% increase compared with 2021, and its highest level since at least 2005. 15 out of the 38 OECD countries registered in 2022 their highest levels of permanent migration over the past 15 years. Rising labour migration was one contributing factor, as migrant workers … Continue reading
AI Capabilities and Risks in UK – A discussion paper
This discussion paper was written to inform discussions at the AI Safety Summit 2023. It does not represent government policy. Generative AI development has the potential to bring significant global benefits. But it will also increase risks to safety and security by enhancing threat actor capabilities and increasing the effectiveness of attacks. • The development … Continue reading
Per Capita Health Spending in OCDE – More than 76% of all spending is financed through government or compulsory insurance schemes
The level of per capita health spending, which covers both individual and population health care needs, and how this changes over time, depends on a wide range of demographic, social and economic factors, as well as the financing and organisational arrangements of the health system. In 2019, average per capita health spending in OECD countries … Continue reading
Working Wives and Husbands in US – Husbands spend about 28 hours per week on leisure
Employed, married Americans spend an average of 27 hours on leisure activities in a typical week. But the amount of time they spend on leisure – and the types of leisure activities they do – differ significantly by gender. Among employed U.S. adults who are ages 25 to 64 and married, husbands spend about 28 … Continue reading
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